PLM Fleet dba PLM Trailer Leasing finalized its partnership with a U.S. subsidiary of Mizuho Leasing, MM Wheel, which acquired a 50% membership interest of PLM from Marubeni America.

The closing of the transaction followed the receipt of regulatory approvals from required government authorities and PLM’s shareholders.

“We are pleased to announce this partnership and the joining of two strategic businesses,” said Kenji Funaki, chairman of the PLM board of directors.

“We are thrilled to continue our partnership with Marubeni America Corporation and welcome Mizuho Leasing,” added Keith Shipp, president and chief executive officer of PLM.  “This partnership strengthens PLM’s position as an industry leader, providing refrigerated fleet management and leasing solutions to the supply chain.”

PLM is headquartered in Newark, NJ with nationwide locations dedicated to the leasing, rental, maintenance, IoT solutions and fleet management of refrigerated trailers in the cold supply chain.